Canopy Growth (NASDAQ: CGC) announced its third quarter fiscal 2021 results with net revenue of $153 million, an increase of 23% versus Q3 2020. Canopy Growth said that $99 million of that revenue was driven by an increase in Canadian recreational and International medical cannabis revenue. Despite the increase in revenue, the company also recorded an eye-popping net loss of $829 million. Canopy said that this was a $720 million wider loss than the previous quarter and blamed the loss on impairment and restructuring charges and other related charges of $416 million.
Zig-Zag maker Turning Point Brands, Inc. (NYSE: TPB) announced financial results for the fourth quarter and full-year ending December 31, 2020. For the fourth quarter, the company said net sales increased 31.2% to $105.3 million and the net income increased from $25.0 million to $12.7 million. Turning Point beat expectations as the average analyst estimate for the quarter according to Yahoo Finance was $0.76 and the average estimate for revenues was $101 million. For the full year. net sales increased 11.9% to $405.1 million and the net income increased $19.3 million to $33.0 million.
The Green Organic Dutchman Holdings Ltd. (TGOD) (OTC: TGODF) announced unaudited consolidated gross revenue for the fourth quarter of 2020 is expected to be approximately $10.9 million, reflecting growth of 235% over the prior year. Still the company revised its Canadian net revenue forecast to a range of $40 million to $45 million from the previous forecast of $61 million.
cbdMD, Inc. ( NYSE: YCBD) announced its financial results for its first quarter ended December 31, 2020. Net sales for the first quarter of fiscal 2021 increased by 22% year-over-year to a record of $12.3 million from $10.1 million from the prior year’s quarter.
Canopy Rivers Inc. (OTC: CNPOF) reported an operating income of $3.0 million for the fourth quarter. The net income was $1.4 million. Other comprehensive income was $80.8 million for the quarter and that led to a total comprehensive income for the quarter of $82 million.
Zenabis Global Inc. (TSX:ZENA) announced that it has established an at-the-market equity program that allows the Company to issue up to C$15 million of common shares
Columbia Care Inc. (OTCQX: CCHWF) has entered into an agreement with Canaccord Genuity Corp. for 2.8 million common shares at a price of C$9.00 per share for aggregate gross proceeds of C$25 million It is expected that the offering will be primarily sold to one large institutional investor. The deal is expected to close on or about February 25, 2021.
And that’s the big news this week, on Monday the markets will be closed for President’s Day.